Caterpillar Inc. $CAT is S&CO Inc.’s 8th Largest Position

S&CO Inc. boosted its position in Caterpillar Inc. (NYSE:CAT) by 2.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 117,275 shares of the industrial products company’s stock after purchasing an additional 2,380 shares during the period. Caterpillar comprises about 2.9% of S&CO Inc.’s investment portfolio, making the stock its 8th biggest position. S&CO Inc.’s holdings in Caterpillar were worth $45,527,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Aire Advisors LLC grew its position in Caterpillar by 0.3% during the second quarter. Aire Advisors LLC now owns 9,042 shares of the industrial products company’s stock valued at $3,510,000 after buying an additional 25 shares during the period. Dumont & Blake Investment Advisors LLC boosted its stake in shares of Caterpillar by 0.5% during the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 4,954 shares of the industrial products company’s stock worth $1,923,000 after acquiring an additional 25 shares during the last quarter. Redwood Wealth Management Group LLC grew its position in shares of Caterpillar by 0.9% during the 2nd quarter. Redwood Wealth Management Group LLC now owns 2,669 shares of the industrial products company’s stock valued at $1,036,000 after acquiring an additional 25 shares during the period. Tsfg LLC increased its stake in shares of Caterpillar by 9.8% in the 2nd quarter. Tsfg LLC now owns 279 shares of the industrial products company’s stock worth $108,000 after purchasing an additional 25 shares in the last quarter. Finally, GSB Wealth Management LLC raised its holdings in Caterpillar by 1.2% in the 2nd quarter. GSB Wealth Management LLC now owns 2,143 shares of the industrial products company’s stock worth $832,000 after purchasing an additional 26 shares during the period. Hedge funds and other institutional investors own 70.98% of the company’s stock.

Insider Buying and Selling

In other news, Chairman Donald J. Umpleby III sold 17,166 shares of the stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $505.29, for a total transaction of $8,673,808.14. Following the completion of the transaction, the chairman directly owned 448,173 shares in the company, valued at approximately $226,457,335.17. This represents a 3.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lange Bob De sold 14,638 shares of the business’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $562.36, for a total transaction of $8,231,825.68. Following the completion of the sale, the insider owned 80,209 shares in the company, valued at $45,106,333.24. This represents a 15.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 69,662 shares of company stock valued at $33,575,140 in the last ninety days. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CAT. JPMorgan Chase & Co. upped their price target on Caterpillar from $650.00 to $730.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Erste Group Bank upgraded Caterpillar from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. DA Davidson raised their target price on shares of Caterpillar from $408.00 to $569.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Truist Financial reiterated a “buy” rating and issued a $729.00 price target (up from $582.00) on shares of Caterpillar in a research report on Thursday, October 30th. Finally, Bank of America increased their price objective on shares of Caterpillar from $594.00 to $650.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Caterpillar presently has an average rating of “Moderate Buy” and an average target price of $596.59.

Caterpillar Trading Down 1.2%

Shares of CAT opened at $562.82 on Monday. The firm has a market cap of $263.39 billion, a P/E ratio of 28.89, a price-to-earnings-growth ratio of 3.33 and a beta of 1.51. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.38 and a quick ratio of 0.81. Caterpillar Inc. has a 1 year low of $267.30 and a 1 year high of $596.21. The company has a 50 day simple moving average of $491.77 and a two-hundred day simple moving average of $419.59.

Caterpillar (NYSE:CAT) last issued its earnings results on Wednesday, October 29th. The industrial products company reported $4.95 earnings per share for the quarter, topping analysts’ consensus estimates of $4.52 by $0.43. The firm had revenue of $17.64 billion during the quarter, compared to analyst estimates of $16.72 billion. Caterpillar had a net margin of 14.34% and a return on equity of 47.16%. Caterpillar’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.17 earnings per share. On average, equities analysts expect that Caterpillar Inc. will post 19.86 earnings per share for the current fiscal year.

Caterpillar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Monday, October 20th will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, October 20th. Caterpillar’s payout ratio is 31.01%.

About Caterpillar

Caterpillar Inc manufactures and sells construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives in worldwide. Its Construction Industries segment offers asphalt pavers, compactors, road reclaimers, forestry machines, cold planers, material handlers, track-type tractors, excavators, telehandlers, motor graders, and pipelayers; compact track, wheel, track-type, backhoe, and skid steer loaders; and related parts and tools.